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Net Insight (NETI) investor relations material
Net Insight Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 saw stabilized demand and improved earnings, with net sales in comparable currencies flat year-over-year and significant cost savings realized.
Launch of the world's first media-ready 400G solution and enhanced cloud-based offerings reinforced technological leadership and competitive position.
Time synchronization segment gained strong momentum, with nearly 30 customers evaluating solutions, new pilots, and a key Turkish contract event; commercial rollouts expected late 2025 or early 2026.
Turkish 5G license auction completed, leading to Türk Telekom ramping up national time synchronization network rollout, expected to continue into 2027.
Financial highlights
Q3 2025 revenue was SEK 147.1 million, with currency-adjusted sales flat year-over-year; year-to-date revenue was SEK 404.3 million.
Q3 gross margin was 66.3% (down from 69.9% in Q3 2024), with gross profit at SEK 77.7 million and margin including amortization at 52.8%.
Q3 EBITDA was SEK 46.0 million (margin 31.3%); LTM EBITDA was SEK 112.2 million (margin 20.9%).
Q3 operating earnings were SEK 22.0 million (margin 14.9%), a clear improvement over previous quarters.
Cash flow from operating activities was SEK 21.7 million; total cash at period end was SEK 96.3 million, with available liquidity including credit facility at SEK 181 million.
Outlook and guidance
Financial goal of 15% growth by 2027 remains in place, with cost savings program expected to yield SEK 30 million in annual savings from year-end.
Time synchronization customers are expected to move into rollout phase late 2025 or early 2026, with recurring revenue and margin increases anticipated.
Turkish 5G rollout to continue through 2027, with potential for further orders from Türk Telekom.
Ongoing investment in R&D (about 25% of net sales) to support future product launches and maintain technological leadership.
Growth drivers include major sporting events, remote production, and 5G time synchronization rollouts.
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